Have you been struggling to land your dream job? Maybe it’s not your qualifications that are keeping you back but your credit score. Yes, I said credit score. Mortgage lenders are not the only people who can access your credit history. Employers, landlords, and even cell phone companies can review your credit history. Before sending in that next job application, it’s a good idea to check where your credit stands. What Does A Good Credit Score Mean? Your credit score is a three-digit number between 300 and 900 that is used by lenders to determine how dependable you are with…
4 Signs You’re Ready to Be a Homeowner
How do you actually know when you are ready to be a homeowner? Many people will say that homeownership is one of the greatest investments you can make. And while those people aren’t wrong with that statement (if you do it right!), homeownership isn’t always the best fit. But if you’re on the fence between owning or not, these are the top 4 signs I usually see in folks who are ready to be a homeowner. Sign #1: You’re Tired Of Renting Rent increases. Overbearing landlords. Limitations on rental options. Whatever the reason is, the first sign you’re ready to…
My Top Tips for Managing and Making the Most of Your Rental Properties
Rental properties can be a great investment! I’ve even had my own rental properties in Edmonton. Here are my top tips for managing your rental properties.
New Mortgage Qualifying Rates
This new change makes it slightly more difficult for those who are planning to put 20% or more down for their mortgage downpayment or want to refinance.
Top 5 Tips for First-Time Homebuyers
As a first-time homebuyer, shopping for a home can be overwhelming if you don’t know where to start! But, as I like to say, it’s all about making mortgages (and the home buying process!) simple. Over my 18 years of experience in the Edmonton real estate market, these are my Top 5 Tips for first-time homebuyers. #1 Build Your Team While I love finance and making the numbers work helped me when it came time to get my first home, I also had help from a lot of others to navigate the market. I think that when it comes to…
My Top Tips for Buying a Home in Spring 2021
Spring is one of the busiest times for home buyers. Coming from 18+ years of experience in Edmonton, here are my top tips for buying a home this spring.
Purchase Plus Improvement Plans
DID YOU KNOW ABOUT PURCHASE PLUS IMPROVEMENT PROGRAMS? Have you ever walked around your home saying, “I wish I had known about that before I bought my house.” But, being a first-time home buyer it’s like being on a freeway during rush hour and the signs are in a foreign language—you’re just trying to keep pace and take the correct exits. The experience whizzes past and you’ve had to make compromises on your home purchase. You have a property with a garage, but no master ensuite; or a master ensuite, but no finished basement; or a finished basement with a garage, but…
BUYING A HOME? CHECK YOUR CREDIT SCORE FIRST
Before you type into Google, “homes for sale,” you should be taking a deep look at your credit report. We get it. It’s not the glamorous side of buying a new home but knowing how the credit bureaus rate your creditworthiness will save you time and reduce stress when you start viewing homes. HOW CREDIT SCORES IMPACT YOUR MORTGAGE RATE The majority of home buyers do not have the funds to purchase a home outright and need a loan to cover the costs. Because you are applying for a loan, your bank or lender will make a ‘hard inquiry’ on your…
PRE QUALIFY FOR A MORTGAGE IN 60 SECONDS: BUYER BEWARE
With the recent regulation changes in Canada, being approved for a mortgage has become a little more difficult than to pre qualify for a mortgage in 60 seconds. So why are we receiving contradictory information about how quick and easy getting a mortgage can be? Transparency, as we all know, is not a word that would be dominantly used to characterize the banking world, and in many other industries unfortunately. We thought it was time to unveil some of the misleading interpretation that might have been adopted due to recent promotional content within our industry. Technology is evolving with…
Why do Lenders ask for Employment letters?
Why do Lenders ask for Employment letters? Checking for employment letters might seem like just one more piece of paper, but it’s important. It’s due diligence. And it works on your behalf. A borrower will provide employment letters if requested when applying for a mortgage. You will also need a current pay stub dated within 60 days. The mortgage broker informs the borrower for additional income documents. A lender requests the most recent 2 years Notice of Assessments or T1 Generals (tax return) or T4s certainly if overtime or bonus income is used to qualify. Employment letters should provide the…